HKN

What HKN does

HKN, Inc. is a small U.S.-based independent oil and gas production company headquartered in Southlake, Texas, and publicly traded on OTC Markets under the ticker HKNI. Founded in 1973, the company employs between 11 and 50 people and operates a website at hkninc.com. Its core business is the development of the Rmelan oil fields in northeastern Syria under a 25-year production sharing contract signed in June 2020, under which HKN holds a 60% production share, the Syrian Petroleum Company holds 32%, and al-Jazeera Oil Services holds 8%.

The company's revenue model is tied entirely to its share of oil production from the Rmelan fields, with proceeds distributed according to the production sharing arrangement. HKN operates as a non-integrated upstream producer, meaning it focuses exclusively on extraction and production rather than refining, transportation, or retail distribution. The company's public listing on OTC Markets provides access to equity capital, though the company is small enough that it is not a major reporting issuer.

In January 2026, HKN attended a White House meeting on Venezuela oil policy, signaling active engagement with U.S. regulatory and policy frameworks regarding foreign oil operations. This suggests the company is positioning for potential geographic expansion beyond its current Syrian asset. Financial data available in public sources appears garbled or corrupted, with no reliable revenue or production figures disclosed.

Name

HKN

Legal name

hkninc

Website

https://hkninc.com

Company type

Public

Founded year

1973

Operating status

Operating

Headcount range

11–50 employees

Short description

HKN, Inc. is a small U.S.-based independent oil and gas producer headquartered in Southlake, Texas, publicly traded on OTC Markets as HKNI. The company operates the Rmelan oil fields in northeastern Syria under a 25-year production sharing contract, holding a 60% production share.

Ownership category

akta.pro rank

Product category

Upstream Oil and Gas Production

NAICS

Crude Petroleum Extraction (21112), Oil and Gas Extraction (211)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)

Keywords

• Oil and gas production
• Hydrocarbon field development
• Upstream energy operations
• Production sharing agreements
• Independent energy producer

Headquarters

HQ city

Southlake

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Oil and Gas Production: HKN develops and invests in oil fields, generating revenue through production share arrangements. The company operates the Rmelan oil fields in northeastern Syria under a 25-year arrangement with production shares allocated at 60% for HKN, 32% for Syrian Petroleum Company, and 8% for al-Jazeera Oil Services Company.

Distribution channels1 record

Marketing channels1 record

Core offering

HKN develops and invests in oil and gas fields, generating revenue through production share arrangements. The company operates the Rmelan oil fields in northeastern Syria under a 25-year contract with production shares allocated at 60% for HKN, 32% for Syrian Petroleum Company, and 8% for al-Jazeera Oil Services Company. The company also maintains minority ownership interests in other production operations as a small independent U.S. energy producer.

Product overview

HKN Inc. is an independent energy company engaged in oil and gas exploration, development, and production operations. Based on available source material, HKN's primary business activities involve operating oil fields, including a 25-year contract to develop and invest in the Rmelan oil fields in northeastern Syria with production share allocations. The company maintains standard corporate functions including investor relations, corporate governance, and executive leadership.

Differentiator

Problem solved

Functional benefit

Products and services

• Rmelan Oil Field Development and Production Long-term oil field development and production operation in northeastern Syria conducted under a 25-year production sharing agreement. HKN develops, invests in, and operates the Rmelan oil fields, retaining a 60% production share. The service is delivered to and with state-owned petroleum companies (Syrian Petroleum Company and al-Jazeera Oil Services Company) as a long-term enterprise partnership.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Syrian Petroleum CompanycoreStrategic or Co-development Partner · 1 June 2020Syrian state-owned petroleum company as a key partner in oil field development. Production share arrangement: Syrian Petroleum Company receives 32% of Rmelan oil fields production under a 25-year development contract.
• Al-Jazeera Oil Services CompanyminorStrategic or Co-development Partner · 1 June 2020Al-Jazeera Oil Services Company participates in the Rmelan oil fields development with an 8% production share allocation under the 25-year arrangement.

Scale indicators3 records

Recent moves3 records

Expansion highlights2 records

Broad incumbents

• ExxonMobil: Global IOC with historical Syrian operations and active Venezuelan interests; co-attendee at the January 2026 White House meeting. Represents the upper-bound scale benchmark in HKN's policy peer set.
• Tallgrass Energy: U.S. energy infrastructure and production company co-attending the January 2026 White House meeting. Comparable as a mid-cap independent with policy access, though more infrastructure-weighted than HKN.
• ConocoPhillips: Independent-major hybrid IOC, also at the January 2026 White House Venezuela meeting. Comparable as a production-sharing operator in international jurisdictions.
• Antero Resources: Independent natural gas and NGL producer used as the explicit financial benchmark for HKN in the source data. Listed as outperforming HKN across revenue and earnings — same small-cap independent upstream peer set.
• Chevron: Major IOC with Syrian and Venezuelan operations history. Co-attended January 2026 White House meeting. Comparable as a producer in sanctioned jurisdictions, but vastly larger and a benchmark for HKN's independent cost advantage.
• Continental Resources: Large U.S. independent E&P led by Harold Hamm, co-attended the January 2026 White House Venezuela policy meeting with HKN. Operates upstream oil production in U.S. basins with comparable independent-operator economics and policy access.

Direct peers

• Genel Energy: U.K.-listed independent E&P with Kurdish Region production-sharing arrangements and Middle East focus. Closest international peer to HKN by business model (independent + PSC structure + geopolitically complex jurisdiction).
• DNO ASA: Norwegian independent E&P operator with Kurdistan Region of Iraq production-sharing contracts. Comparable international independent with politically exposed Middle East PSC operations analogous to HKN's Rmelan asset.
• Raisa Energy: U.S. independent oil producer co-invitee to the January 2026 White House Venezuela meeting. Closest policy and operational peer to HKN by size and independent-operator model.
• Aspect Holdings: Private U.S. independent oil company co-attending the January 2026 White House Venezuela meeting with HKN. Directly comparable as a small independent pursuing international/sanctioned-jurisdiction opportunities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/hkn-co-inc

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HKN